Versor Investments LP Invests $911,000 in SharkNinja, Inc. $SN

Key Points

• Versor Investments LP has acquired 10,921 shares of SharkNinja, Inc. (NYSE:SN), valued at approximately $911,000, marking a significant new position in the company.
• Several hedge funds increased their stakes in SharkNinja, with Palestra Capital Management raising its ownership by 83.4%, now holding shares worth $173.4 million.
• Analysts are optimistic about SharkNinja, with JPMorgan increasing its target price from $108 to $144 and other analysts giving the stock a generally favorable "Moderate Buy" rating.

Versor Investments LP bought a new position in shares of SharkNinja, Inc. (NYSE:SN - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,921 shares of the company's stock, valued at approximately $911,000.

Several other large investors have also made changes to their positions in SN. Wells Fargo & Company MN raised its stake in shares of SharkNinja by 14.8% during the 4th quarter. Wells Fargo & Company MN now owns 9,944 shares of the company's stock worth $968,000 after buying an additional 1,280 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of SharkNinja by 28.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 18,552 shares of the company's stock worth $1,806,000 after buying an additional 4,160 shares during the period. Mariner LLC acquired a new position in shares of SharkNinja during the 4th quarter worth approximately $264,000. Forum Financial Management LP purchased a new stake in shares of SharkNinja during the fourth quarter worth approximately $266,000. Finally, First Trust Advisors LP raised its stake in SharkNinja by 489.5% in the 4th quarter. First Trust Advisors LP now owns 226,751 shares of the company's stock valued at $22,076,000 after purchasing an additional 188,283 shares during the last quarter. 34.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SN shares. JPMorgan Chase & Co. increased their price objective on SharkNinja from $108.00 to $144.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Wall Street Zen downgraded SharkNinja from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Guggenheim reissued a "buy" rating on shares of SharkNinja in a research note on Friday, August 8th. Morgan Stanley increased their price objective on SharkNinja from $85.00 to $101.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group set a $175.00 price objective on SharkNinja in a research note on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, SharkNinja currently has a consensus rating of "Buy" and an average target price of $131.86.

SharkNinja Trading Up 0.9%

NYSE:SN traded up $1.0380 during trading hours on Friday, hitting $116.8580. The company had a trading volume of 1,676,764 shares, compared to its average volume of 1,503,421. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $109.47 and a 200 day moving average of $97.04. The company has a market cap of $16.49 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.42 and a beta of 1.69. SharkNinja, Inc. has a 1 year low of $60.50 and a 1 year high of $128.51.

SharkNinja (NYSE:SN - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.19. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.38 billion. SharkNinja had a return on equity of 28.78% and a net margin of 8.82%.The firm's quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS. SharkNinja has set its FY 2025 guidance at 5.000-5.100 EPS. Sell-side analysts expect that SharkNinja, Inc. will post 4.52 earnings per share for the current year.

SharkNinja Profile

SharkNinja, Inc, a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, including handheld and robotic vacuums, as well as other floorcare products comprising steam mops, wet/dry cleaning floor products, and carpet extraction; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, such as hair dryers and stylers, as well as home environment products comprising air purifiers and humidifiers.